
I’ll admit up front that I’m enthralled by this new web application. Not necessarily for what it can do today (though it is pretty awesome today) but for what the potential is.
Wesabe is a personal finance web app that makes Quicken look like a stuffy old paper ledger. It combines social/community networking (a la Flickr) with personal finance and provides three main tools to help you understand your finances, save money, and reach financial goals. These features are called in Wesabe; tags, tips, and goals. Tags are the by now familiar and reassuring system of labeling that ties in to others similar labels and leverages information, ie, I can see for my ‘books’ tag what others top merchants are and their ranking, what people spend on average, and what tips folks have. Tips are ways to save money that folks write up to share with others - all based on a tag. Goals are what you write to set yourself financial, uh, goals. They are shared and overlapped and available for discussion.
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